SA Ride-Sharing Startup Secures Capital, Prepares For Expansion

South African ride-sharing startup Jumpin Rides has raised R1.8 million to be invested into launching mobile apps, online and offline marketing, and starting to look at other African markets.

Cape Town-based accelerator Far Ventures disclosed in its blog that the carpooling platform raised the cash from various local and international business angels.

Today, Jumpin Rides has more than 10,000 users, of which approximately 25% are drivers and 75% are passengers.

Rides booked through the platform are equally spread between short distances (<50km), mid-distances (50km to 200km) and long distances (>200km), which proves that the company responds to a large need in the market.

The carpooling platforms’ strategy relies on building strong partnerships with corporates and events such as festivals and sports gatherings to facilitate access and enable people to experience more of the amazing country that is South Africa.

Founded late 2016 within Far Ventures by Pauline du Paty, Romain Diaz and Antoine Paillusseau, Jumpin Rides aims to provide a new transport solution for South Africans, by connecting drivers with spare seats to passengers going the same way and willing to contribute towards petrol costs.

Far ventures said this is a win-win solution for drivers who save on petrol and passengers who can travel for 80% cheaper than alternatives such as Uber and Taxify.

Far Ventures invested the first capital along with its management team to build the product and initial traction for its carpooling platform.

“We are thrilled to welcome seasoned entrepreneurs and investors on board to support us in our vision. This round of funding is a validation of our approach and of the market opportunity we are tackling,” says co-founder & MD, Pauline du Paty.

“We look forward to taking Jumpin Rides to the next level by investing these funds into launching mobile apps, online and offline marketing, and starting to look at other African markets which are in need a peer-to-peer ridesharing solution such as Jumpin Rides.”

Far Ventures Team

Far Ventures is a start-up builder based in the heart of Cape Town, one of the leading hubs of the African tech scene.

Its mission is to foster tech entrepreneurship in Africa by founding and growing start-ups that can positively impact people’s lives through technology.